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Capital make large scale production and greater degree of specialization possible. Thus with capital accumulation the advantages of large scale production and specializations are obtained. The advantage of large scale production and specialization is that they greatly increase output and productivity and there by brig done the cost of production per unit. Without adequate capital accumulation neither the scale of production can be neither increased nor greater specialization and division of labour in the production process is possible. Hence capital accumulation by increasing the scale of production and specialization increases the production and productivity in the economy and thereby promotes economy’s growth.
differance between capitalism and socialism
explain how the keynesian cross shows that the economy is susceptible to self-fulfilling prophesies, either positive or negative
illustrate and discuss the implications of various market structures (competitive and non competitive) for price determination
Risk Neutral - A person is a risk neutral if they show no preference between certain, and an uncertain income with the same expected value.
If the inverse demand curve is p=120-Q and the marginal cost is constant at 10, how does charging the monopoly a specific tax of r=10 per unit affect the monopoly optimum and the w
if tc is 200 what will be marginal cost?
is country beter off with ban on imports?
scope of microeconomics
Determinants of reserve price
explain monotanic
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